Following the passage of federal legislation in 2014, the Maryland Department of Disabilities led the task force to draft suggested implementation of ABLE in Maryland. Implementation recommendations were completed in December of 2015 and submitted for consideration by the Maryland General Assembly. The legislation was introduced as House Bill 431 and Senate Bill 355. Throughout the legislative session, Governor Hogan lent his support to the legislation and ensured the state supplemental budget included needed start up costs for establishing the program.
State implementation requires the College Savings Plans of Maryland Board to establish the Maryland ABLE program helping promote financial savings to support individuals with disabilities in "maintaining health, independence, and quality of life." The legislation renames the College Savings Plans of Maryland Board to the Maryland 529 Board and requires them to work in consultation with the Maryland Department of Disabilities. Per the legislation, ABLE should be fully implemented in Maryland by October of 2017.
"Governor Hogan continues to support fiscal responsibility and financial wellness for all Marylanders," noted Secretary Beatty at the bill signing. "By supporting the establishment of a robust and comprehensive ABLE program in Maryland, we ensure our state's economic health extends to all our residents including those with disabilities and their families."